Best Cryptocurrencies to Buy Now February 23 – Polygon, Pyth Network, Axelar

find Best Cryptocurrencies to Buy Now, it’s a never-ending task, with dozens of tokens being launched every day on CEX and DEX platforms.

Investors are always seeking significant profits, which requires ongoing effort and time. Insidebitcoins helps investors by regularly compiling lists of the best tokens for investment. This allows traders to take advantage of intentional bullish periods in the market.

Best Cryptocurrencies to Buy Now

Many tokens have experienced surges and competed to be recognized as top investment choices. This competition often leads to the emergence of innovative investment prospects, making them attractive to investors looking for promising opportunities. However, this article highlights a few of these tokens.

1. Polygon (MATIC)

Polygon is an Ethereum Layer 2 (L2) scaling solution that has seen remarkable growth since its launch. Its native token, MATIC, has surged 32.68% in just one month, making it the 14th largest cryptocurrency. It also boasts a market size of approximately $856,088, according to CoinMarketCap rankings.

Polygon also facilitates different types of blockchain infrastructure, including optimistic rollup chains, ZK rollup chains, and standalone chains. Developers can leverage Polygon to create a variety of blockchain solutions tailored to their needs.

Polygon also extends the capabilities of Ethereum into a comprehensive multi-chain ecosystem, often referred to as the Internet of Blockchains. This ecosystem is similar to other multi-chain frameworks such as Polkadot, Cosmos, and Avalanche. However, Polygon sets itself apart by inheriting Ethereum’s strong security measures, dynamic ecosystem, and transparency.

ZK-based inbound consumer engagement.@ArianeeProject We’re leveraging Polygon CDK to help brands unlock the full potential of Digital Product Passports (DPPs) and participation tokens at scale.

Through its dedicated appchain, Arianee will help brands grow to a high level… pic.twitter.com/9eurRMkLPt

— polygon | Aggregated (@0xPolygon) February 22, 2024

Despite recent sluggish movements, there is growing concern among analysts within the blockchain industry about speculative activity surrounding MATIC. These concerns stem from a variety of factors, including the trading performance of the tokens in relation to the token sale price, liquidity and availability.

MATIC is trading above its 200-day simple moving average, which indicates a positive trend in its price action. Polygon has garnered significant attention in the blockchain space due to its role in improving Ethereum’s scalability and interoperability.

2. KuCoin Token (KCS)

KuCoin tokens (KCS) operate as ERC-20 tokens on the Ethereum blockchain, making them compatible with most Ethereum wallets. The current value is $10.64, up 2.55% for the day. This upward trend is consistent with the bullish sentiment in the price forecast.

Additionally, the token’s Fear & Greed Index shows a value of 76, indicating a greedy market sentiment. KCS has seen its price rise 20% in the past year, consistently trading above its 200-day simple moving average. It also surpassed the initial token sale price, reflecting positive market sentiment and investor confidence.

Recent developments include the KuCoin token partnering with Cryptorobotics, making Cryptorobotics the official broker and partner of KuCoin. The collaboration aims to streamline the trading process for KuCoin users by leveraging Cryptorobotics’ automation solutions tailored to the cryptocurrency market.

We are happy to partner with you. @CryptoRobotics For automated cryptocurrency trading! 🤖

Advanced AI tools enhance your trading, ensuring efficiency and strategy optimization in volatile markets. 📈

Experience the future of trading with our latest collaborations!

— KuCoin (@kucoincom) February 23, 2024

Cryptorobotics also offers advanced trading tools such as crypto bots, copy trading features, crypto signals, AI-based bots, and smart ordering features. These tools aim to automate trading tasks, improve efficiency and apply real-time strategies to the cryptocurrency market.

The API integration allows KuCoin users to seamlessly access Cryptorobotics’ suite of tools directly from the KuCoin platform. This integration increases the importance of automation in modern cryptocurrency trading practices. This allows users to optimize their trading strategies and take advantage of market opportunities.

3. PYTH Network (PYTH)

Pyth Network (PYTH) is expected to recover 5% after falling 20% ​​in price from its recent high of $0.68. This decline was particularly influenced by a sell-off among investors during February 8-14 following the price surge.

Pyth Network is the largest and fastest expanding first-party Oracle network. We specialize in providing real-time market data to financial decentralized applications (dApps) across 40+ blockchains. It also offers over 380 different low-latency price feeds across cryptocurrencies, stocks, ETFs, FX pairs and commodities.

The network also boasts contributors from major exchanges, market makers and financial service providers who provide price data for smart contract utilization. PYTH is currently trading at $0.5521, up slightly 0.43% over the last 24 hours.

Pyth Network recently introduced a Bitcoin Exchange-Traded Fund (ETF) price feed. It aims to improve access to reliable, real-time price data for 13 Bitcoin ETFs for DeFi developers and users. The approval of the Bitcoin ETF marks an important milestone for the cryptocurrency community.

2/

Read the full blog: https://t.co/n77GyfxxXF

Check developer documentation: https://t.co/w3ptRzNaan

— Pyth Network 🔮 (@PythNetwork) February 20, 2024

Moreover, Bitcoin ETFs provide a gateway to broader adoption by making the leading cryptocurrency accessible to mainstream investors. This is done without going through the technical and security complexities of direct Bitcoin ownership. Developers now have seamless access to integrate Bitcoin ETF price feeds from the wide range of products offered by Pyth Network.

4. SPONGEV2 (SPONGEV2)

Sponge emerged amid the meme coin boom in 2023, capturing investor attention with promises of significant returns. After a successful debut on Uniswap, Sponge was quickly listed on several centralized exchanges, including Gate.io, MEXC, and Bitget, further increasing its popularity.

now, Sponge V2 It is poised to offer the potential to deliver even greater benefits and utility than its predecessors. Investor interest remains high, with nearly 10 million V1 tokens already staked and linked to V2, earning an incredible 188% APY reward.

Don’t forget what’s coming #SpongeV2 Play-to-Earn game! 🙌

Stay tuned for updates. 🧽$sponge #Cryptocurrency #altcoin #100x #web3 #AltSeason #Binance pic.twitter.com/Z51MSmKqVF

— $SPONGE (@spongeoneth) February 21, 2024

The imminent launch of Sponge V2 will feature unique Play-to-Earn (P2E) games, introducing a new level of utility to the token. Through gameplay, participants can earn $SPONGEV2 tokens, adding an interactive element to their investments. Additionally, the roadmap for Sponge V2 outlines three stages:

In Phase 1, staking will begin with the start of research on the Sponge P2E game, offering stake purchase bonuses to early adopters. Phase 2 will focus on claiming and listing $SPONGEV2 while developing Sponge Game, with the goal of reaching 10,000 holders. Finally, in stage 3, we aim to list on Tier 1 CEX, achieve a market capitalization of $100 million, and launch the Sponge Game app.

Sponge V2 also aims to build on the success of previous versions by improving its utility and rewards. These developments Sponge V2 The token leverages trends observed in other successful projects in the cryptocurrency market.

Visit Sponge V2 Pre-sale

5. AXL

Axelar recently partnered with Function X to improve cross-chain interoperability on the f(x)Core blockchain. This collaboration facilitates a direct connection between the two chains, bypassing the need for intermediaries such as Cosmos Hub. Through integration with Axelar, Function X expands its reach, giving users access to a wider range of on-chain assets and liquidity.

Additionally, this integration simplifies cross-chain transactions and improves user interaction with Function X and the broader blockchain ecosystem. In the next steps, Function

Known for seamless integration across 50+ blockchain networks, Axelar offers unfettered decentralized security and programmability. Its technology has been recognized by major companies such as Microsoft. This positions it as an important tool for merging off-chain infrastructure with on-chain networks.

💡 Chain abstraction and the future of Ethereum scaling

Q: What does ‘scalability’ mean in the Ethereum ecosystem with the explosion of new L2 and L3?

A: Chain abstraction – sounds advanced, but the idea is simple 👇

→ Users from any EVM chain can easily interact with the application… pic.twitter.com/EZ4OCqkgpR

— Axelar Network (@axelarnetwork) February 20, 2024

Axelar’s innovative solution also significantly advances composable USDC through collaboration with Circle’s CCTP protocol. Axelar’s token (AXL) has seen an intraday gain of 2.81% and an impressive 94% gain over the past year. The token outperformed 72% of the top 100 cryptocurrency assets during this period.

Additionally, the current sentiment towards Axelar’s price prediction is Bullish, with the Extreme Greed reading on the Fear & Greed Index at 76. Additionally, Axelar has shown positive performance relative to its token sale price. The token has been trading for 20 of the last 30 days, indicating strong market liquidity.

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